Jewellery Trade Dubai strategically timed event as diamond trade crosses the $10bn mark

The rapidly growing diamond trade in the region has been one of the instrumental reasons behind the establishment of a trade element as part of the high profile event, giving local, regional and international diamond traders a tailor-made platform to leverage their potential.

Dubai's diamond trade has witnessed a record growth in 2007, increasing by 53% to reach $11.23bn and confirming the Emirate's role as an international diamond hub. According to the Dubai Diamond Exchange (DDE), the Emirate's rough diamond trade saw a 29% increase from 2006 to reach 4.82 billion, with trade in polished diamonds rising a massive 88% to hit $6.41bn.

Mr. Ahmed Bin Sulayem, the executive chairman of Dubai Multi Commodities Centre (DMCC), the parent group of DDE, reconfirmed Dubai's new global standing in the global diamond market. '2007 has been a year of record growth for the UAE diamond trade which has crossed the psychological mark of $10bn. Dubai has become now a mature diamond centre, combining its role as an international hub, a regional distribution centre and a local consumer market,' said Mr. Sulayem, justifying the increased focus on diamonds at Jewellery Trade Dubai.

'The special focus on diamonds at Jewellery Trade Dubai will play a key role in supporting and promoting the industry' said Ms. Trixee Loh, Senior VP, Exhibitions and Events Management, Dubai World Trade Centre. 'We are in the midst of an unprecedented boom, and providing a niche platform for the biggest players in the industry to meet, interact and establish new relationships will go a long way in complementing this upswing,' she added.

Some of the biggest trade players in the local and international diamond market, including Shrenuj, Dimexon Eurostar and Rosy Blue, will play a significant role in the show. 'Dubai is in the midst of a very exciting time for diamonds' said Sumit Kothari, Director, Shrenuj DMCC.

'While the local consumption is definitely on the rise, Dubai is also emerging as the leading trading hub for the entire Middle East. For us, Jewellery Trade Dubai presents an exciting opportunity to meet new customers and display our comprehensive product range. It is a fantastic platform to showcase our company's products, and the same goes for other companies as well,'

he added. Mr. Harshad Mehta, Chairman of diamond giant Rosy Blue, was equally optimistic.

'We are extremely bullish about the diamond industry in the Gulf region, and particularly the UAE. We are planning to increase our presence in the Gulf market, which we see as a major sales centre because the growth in tourism,' said Mr. Mehta.

This will not be the first time that diamonds have come under the spotlight at the event. Last year's event saw the launch of The Diamond Academy, which proved to be a huge success. Exhibitors and traders at the event will be further supported by a workshop programme featuring presentations on Diamonds, Gold, Pearls and Gemstones.

Lending a solid helping hand to the flourishing industry and the event are leading international and regional associations formed to specifically promote the industry and maintain the highest standards of quality. The Dubai Multi Commodities Centre, International Diamond Laboratories and Dubai Diamond Exchange have played a key role in the industry's rise, and continue to play an active part in its future plans.

'There is a strong industry demand for accurate diamond grading services which assure customers that the diamonds they purchase are of the exact quality they expect. IDL certificates are a trademark of quality, objectivity and trust and we are proud to extend our services to diamond jewellery. We aim to provide precise grading through a scientific and objective approach using cutting edge technologies,' said Mr. Peter Meeus, CEO of IDL.

Dubai International Jewellery Week 2008 is scheduled to be held at the Dubai International Convention and Exhibition Centre from 11-15 November 2008. For the first time the show will bring together two of its three key components - Jewellery Collections Dubai and Jewellery Trade Dubai - to offer a comprehensive retail and trade experience to visitors and exhibitors alike from 11 to 15 November 2008. Areeq Dubai, the 'Luxury' event which includes brands from the crème-de-la crème of the jewellery world, will be held from the 13 to 15 November. Dubai International Jewellery Week is supported by the Dubai Diamond Exchange, Dubai Gold & Jewellery Group, International Diamond Laboratories and World Gold Council.